What is this “Financial Instability Hypothesis” by Hyman Minsky really about?

By L. Randall Wray

A version of this post first appeared at "Great Leap Forward”, my EconoMonitor blog.

Since Paul Krugman kicked-off a heated discussion about Minsky’s views on banks, and because the annual “Minsky Conference” co-sponsored by the Ford Foundation and the Levy Economics Institute starts this morning, I thought it would be useful to run a couple of posts laying-out what Minsky was all about. This first piece will detail his early work on what led up to development of hi...

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